Buying your UpToYou home

UpToYou is a scheme that was introduced to assist people who aspire to home ownership. UpToYou residents that are renting from L&Q have the opportunity to buy their home either through Shared Ownership or outright.

As we promised you when you moved into your home, if you are renting through UpToYou you can receive a 5% discount on the share you purchase.

This is a great opportunity to take your first steps onto the property ladder and benefit from a 5% discount at the same time.

Am I eligible?

To qualify for this scheme:

You must be living in a L&Q UpToYou rented home

You must earn equal or less than £64,300 (household income)

The property must meet or be greater than the reserve price provided to you in writing please refer to your Purchase Options letter which was provided at the tenancy sign up

You must have lived in the property for at least six months and passed the initial tenancy period

You will need to have sufficient funds to buy the home. These will need to cover the cost of buying and at least a 5-10% deposit required by most mortgage lenders to put towards your share

You must be adhering to the terms and conditions of your tenancy and not be in any rent or service charge arrears or be linked to Anti Social Behaviour

You must not be overcrowded and the home must meet your current needs

You must meet L&Q's Home Ownership criteria

Please note that anything that will prevent you from obtaining a mortgage may affect your application.

What are the costs involved in buying my home?

It is important to consider the cost and responsibilities of buying your own home before making the decision to go ahead.

You should get your own independent advice before making any commitment. An Independent Financial Advisor will be able to explain the costs of buying through this scheme.

We estimate you need access to around £3,000 - £5,000 to cover the cost of buying a home. This should include the following:

Legal costs

A fee for arranging a mortgage

Survey / valuation fee (if you arrange your own)

Stamp Duty Land Tax (SDLT)

Please note, it is likely that you will also need savings for at least a 5% deposit for the share you are purchasing. This is a requirement of most mortgage lenders and can be discussed with your Financial Advisor when applying for your mortgage.

Buying more shares

As a Shared Owner, you should be entitled to buy more shares, we call this Staircasing.

Our Staircasing team can assist with this, for more information visit the Staircasing section of this website.